only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people who work fulltime. That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make.
This loan forgiveness is going to cost $300 billion in the first year. Without the $125k limit it would "only" go up to $344b. Meaning this is WAY more than just a handful of people who couldn't pay it back anyway. It's almost all of college students and graduates.
It also disproportionately benefits people in the top income brackets.
only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people who work fulltime. That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make.
This loan forgiveness is going to cost $300 billion in the first year. Without the $125k limit it would "only" go up to $344b. Meaning this is WAY more than just a handful of people who couldn't pay it back anyway. It's almost all of college students and graduates.
It also disproportionate benefits people in the top income brackets.
only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people who work fulltime. That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make.
This loan forgiveness is going to cost $300 billion in the first year. Without the $125k limit it would "only" go up to $344b. Meaning this is WAY more than just a handful of people who couldn't pay back anyway. It's almost all of college students and graduates.
It also disproportionate benefits people in the top income brackets.
only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people wo work fulltime. That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make.
This loan forgiveness is going to cost $300 billion in the first year. Without the $125k limit it would "only" go up to $344b. Meaning this is WAY more than just a handful of people who couldn't pay back anyway. It's almost all of college students and graduates.
It also disproportionate benefits people in the top income brackets.
only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people wo work fulltime (https://en.wikipedia.org/wiki/Personal_income_in_the_United_States). That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make: https://www.bankrate.com/loans/student-loans/average-college-graduate-salary/
According to this article this loan forgiveness is going to cost $300 billion in the first year. Without the $125k limit it would "only" go up to $344b. Meaning this is WAY more than just a handful of people who couldn't pay back anyway. It's almost all of college students and graduates.
It also disproportionate benefits people in the top income brackets.
only for students making less than $125k per year. Meaning that it's forgiveness for loans that were likely never going to be repaid anyway
$125k is twice the average income in the US for people wo work fulltime (https://en.wikipedia.org/wiki/Personal_income_in_the_United_States). That's a long shot from being some downtrodden poor who can't make payments.
$125k is also more than almost all college graduates make: https://www.bankrate.com/loans/student-loans/average-college-graduate-salary/
Plus, from what I've read, they get to use 2020 levels, i.e. pandemic income.